Facebook’s Stock Price Is Climbing Today

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The stock price of Facebook Inc (FB) has gone up by over 2.7% today till the late morning trading session. The stock closed at $176.01 on Tuesday.

The California based company is an American for-profit corporation and online social media and social networking service. The Facebook website was launched on February 4, 2004, by Mark Zuckerberg, along with fellow Harvard College students and roommates, Eduardo Saverin, Andrew McCollum, Dustin Moskovitz, and Chris Hughes.

The founders had initially limited the website’s membership to Harvard students; however, later they expanded it to higher education institutions in the Boston area, the Ivy League schools, and Stanford University. Facebook gradually added support for students at various other universities, and eventually to high school students as well. Since 2006, anyone age 13 and older has been allowed to become a registered user of Facebook, though variations exist in the minimum age requirement, depending on applicable local laws. The Facebook name comes from the face book directories often given to United States university students.

Today, Facebook 3D posts support the industry standard glTF 2.0 file format, allowing for textures, lighting and realistic rendering of rough or shiny objects. New Graph API endpoints let developers build 3D modeling apps or even 3D cameras that directly share to the News Feed and make websites that show up as 3D posts. Users can now drag-and-drop 3D objects into the feed. And users can take 3D posts and bring them into Facebook Spaces, its social VR hangout rooms.

For example, you could make a metallic personalized chess piece in a 3D modeling app, share it straight to News Feed and then bring it into Facebook Spaces, where you could play with it as part of the playground’s native chess board. Brands like LEGO, Jurassic World, Clash of Clans and Wayfair are already experimenting with 3D posts that you can play with here or on this article.

“We’re trying to make 3D a native part of the Facebook ecosystem. Stage 3 is getting these 3D objects into AR,” says Facebook’s creative director for social VR, Ocean Quigley. He sees this as a natural progression for a social network that’s gone from text, to photos, to videos, to immersive media. “We’re trying to lay the foundational steps so Facebook can go with users into their 3D worlds of VR and AR.”

Now when you share a 3D post, you’ll get to pick a background color and texture to set it on. Quigley says the hope is to “keep the upload flow pretty simple and streamlined” so sharing high-tech posts doesn’t require high-tech skills. He calls glTF 2.0 “the JPEG of 3D,” touting support from Google and Microsoft. And if you have a 3D object in another format, Facebook is open sourcing converters on GitHub so you can port them to Facebook’s preferred file type.

Our analysts have given a “HOLD” rating to Facebook’s stock. Today’s rise indicates a positive response from the market and is expected to stay positive in the midst of its new features.